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Toshiba Tec reports massive jump in profits

February 7, 2022

In the company’s latest financials results for the nine months period ended 31 December 2021, the company recorded a year-on-year (YoY) increase of 171% in operating profits and an 11.8% increase YoY in net sales.

Toshiba Tec reported net sales of ¥328.52 billion ($2.86 billion/ €2.5 billion), an 11.8% increase on the same period from the previous fiscal year. Operating profits jumped a massive 171% to ¥8.66 billion ($75.3 million/ €65.9 million).

The Workspace Solutions Business Group which handles MFPs for the domestic and overseas markets, recorded net sales of ¥134.3 billion ($1.12 billion/ €1.02 billion), up 17% year-on-year. Toshiba Tec said that the business was still being impacted by the pandemic, but despite that, sales of MFPs rose in Americas, Europe, Asia and other overseas regions. Sales of inkjet heads increased during the period domestically and internationally.

The company revised its full year forecasts upwards.

 

Categories : City News

Tags : Business Financials OEM Toshiba Tec

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